| Term........................... |
Cancellation Fee |
PGID#..........15740000 0100 |
| In the Context of........... |
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Term Type....Root 1 |
| Also See In Context of... |
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| Note............................... |
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| Definition........................ |
A sum agreed to be paid when a procuring party cancels the services of the providing party. |
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| Additional Info............... |
Typically applicable when there is short period before the production or due date, in order to offset costs and inconvenience to the seller. Cancellation fees typically are not refundable. |
| Term In Use................. |
"The amount of the cancellation fee is reasonable, considering how much work was done in advance." |
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| Variations...................... |
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| Plural............................ |
Cancellation Fees |
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Note: Synonyms, antonyms & related terms coming soon
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| PLUS Usability Rank....... |
None |
| Preferred Term.............. |
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